Calgary, Moscow share unfortunate real estate link

Calgary has been grouped with Moscow, Houston and Aberdeen, Scotland in a report highlighting cities with the downtowns most impacted by the oil price slump.

Global real estate firm Cushman & Wakefield says that Calgary’s vacancy rate will reach 27.5 per cent by the end of 2016. It is the highest level since the company began recording in 1985.

The data shows that the vacancy rate grew from 20 per cent to 25 per cent in the three months ended September 30.

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